St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-22

paper I@S. Sterling exchange is fever1sh
and lower ut S4.79s4@4.S0 for sixty days,
and 81. Sidl4. S4A for demand. The stock
market to-day was slightly less active than
on yesterday, but was equally feyerish and
subject TO sudden changes from activity to
dizziness and strength to weakness and vice
versa. The activity was. most noticeable
during the weak spells in the forenoon. and
later In the day during the strong periods.
There was disposition to await the action of
the treasury, but in the absence of liquids
ton the bears attacked the list again with
marked success. The weakness was intensi-
fed after the small amount of funds offered
became known, but better feeling prevailed
later, and the bulls assumed command of the
market The general opinion seemed to be
that the small offering OF bonds indicates
that the government has absorbed the floating
supply of the 4l2s and will have to buy As
and 6s in order to relieve the pressure upon
the money market. The notice of the limit
offerings caused a rush by the bears which,
Notwithstanding the resistance offered by
the purchases for foreign account and the
more influential room traders, forced prices
down sharply for short time. The oversold
condition of the market is shown by the fact
that most of the active stocks loan at a
premium for use, and the bulls assert that
any attempt to cover the outstanding shorts
would precipitate rise of 10 per cent. The
activity in Reading was very great, but its
influence upon values was not greater than
Western Union, New England Or ST. Paul.
There were no special favorites in the list but
all were equal sharerS in the movements of
the day. Under the influence OF a more hope
full feeling and purchases by the foreigners,
prices were materially higher at the
opening, advances ranging up TO Is per cent.
The improvement was quickly lost, however,
the market being weak from the opening and
in the first twenty minutes Missouri Pacific
lost LA and the other lesser amounts, though
specially heavy losses were sustained by
some of the specialties; The market rallied,
recovered most of the loss, but again became
weak and active before noon and from l2 to
l "A per cent. was knocked off of values with
Western Union leading the decline, though
it was later displaced by New England. The
decline received an impetus after - o'clock,
and the lowest figures generally were
reached by 2:30, when decidedly strong
tone market, the dealings and prices rose
rapidly until O'Clock, when quiet period
occurred. The advance was resumed with
force after delivery hour and the close was
strong at the best prices of the day. Almost
everything. is higher, the only. nota-
R E9e executions an6 0seg being Wheeling LAKE
s aGwh But a aha Central sT is aen
Colorado Coal, ia; Louisville 4 Nashville,
"a Western Union, lis; Norfolk 4 Western
preferred and st. Paul, 1. Railroad bonds
showed little more animation and symra-
thlzed with the movements in stocks, but
they failed to respond fully to the improve
ment of the afternoon. Sales, S95l,OO0.
Almost everything is lower, and Buffalo,
New York and Philadelphia trust certificates
lost 2l2 at 39l2: Canada Southern IDS, at
s7l2; Chesapeake \ Ohio Is. at 81; Rock
Island coupon 6s, 2A at 1852; St. Paul, La
Crosse division rs 2 at us; Omaha consols,
9 at 116; Evansville & Terre Haute lists s
at H.; Indiana, Bloomington & Western
DDS, certificates 2 at 20; Kentucky Central
is, at "a; Richmond d Allegheny receipts,
Dig at Sc; Shenandoah Valley Us, 3 at 30;
ST. Louis, Arkansas Il Texas DDS rose 3 to
IS, and Hooking Valley IS 8 to Ga The
total sales OF stocks to-day were 495, 452
shares, including: